DFI Monthly Bulletin – November 2004

Nov 1, 2004

Volume 8, Number 5

Insurance Premium Finance Company Assessment Due

Invoices for the insurance premium finance company assessment were mailed on November 30, 2004.
The amount of the assessment on each insurance premium finance company is 0.0191228268273227
percent of total assets. The invoice is due when received and becomes delinquent if not paid within 20
days. After 20 days, the Commissioner shall assess and collect a penalty in addition to the assessment of
one (1) percent of the assessment for each month or part of a month that the payment is delayed or
withheld, as authorized by section 18351. If an insurance premium finance company fails to pay the
assessment as provided in section 18350 on or before the 30th day of December following the day upon
which payment is due, the Commissioner may by order summarily suspend or revoke that company’s
authority to conduct business.
Please contact Mr. Eli Karam at (415) 263-8559 or by email at ekaram@dfi.ca.gov with any questions
you may have.
Sukyee Lok Promoted to Financial Institution
Senior Financial Institutions Examiner Sukyee Lok was promoted to the position of Financial
Institutions Supervisor in the Los Angeles Regional Office effective November 1, 2004.
Ms. Lok began her career with the Department of Corporations. She was a Credit Union Examiner at
the time of the creation of the Department of Financial Institutions in 1997. Ms. Lok was offered a
Senior Financial Institutions Examiner position in the Banking Division in October 1999, a position she
has held now for the past five years. She will assume the Financial Institutions Supervisor position in
Daphne Porter’s crew, filling the position previously held by Daphne Porter prior to Daphne’s recent
promotion to Financial Institutions Manager.
111 Pine Street, Suite 1100, San Francisco, CA 94111-5613 (415) 263-8500
300 South Spring Street, Suite 15513, Los Angeles, CA 90013-1204 (213) 897-2085
1810—13th Street, Sacramento, CA 95814-7118 (916) 322-5966
7575 Metropolitan Drive, Suite 108, San Diego, CA 92108-4421 (619) 682-7227
Consumer Compliance (800) 622-0620
2 Monthly Bulletin November 2004
Albert Marquez Promoted to Financial Institutions
Senior Financial Institutions Examiner Albert Marquez was promoted to Financial Institutions
Supervisor of the San Diego office effective November 15, 2004. Mr. Marquez fills the position
previously held by Paul Crayton, who recently accepted a staff counsel position with the Legal Section.
He has been with DFI since 1987. During his career with DFI, Mr. Marquez has worked in three of
DFI’s four offices—Los Angeles, San Diego and San Francisco.
Les Thompson appointed to NCUA National Exam
During the month of November, Les Thompson, Financial Institution Supervisor in the Department of
Financial Institutions (DFI) Credit Union Division was appointed to the National Credit Union
Administration (NCUA) National Exam Committee (NEC). This group studies the examination program
that most state and all NCUA examiners use to examine credit unions and addresses various issues
relating to the exam process as the need arises.
Appointments to the NEC are for a period of two years. The committee has quarterly meetings that last
from two to three days, representing a substantial commitment, both on the part of the examiner and
DFI. Mr. Thompson is one of two committee members that were appointed by the National Association
of State Credit Union Supervisors (NASCUS).
Commercial Bank Activity
New Bank
Desert Commercial Bank
Near the intersection of Village Court and Village Center Drive, Palm Desert, Riverside County
Correspondent: Grace Wickersham
Carpenter & Company
Five Park Plaza, Suite 950
Irvine, CA 92614-8527
(949) 261-8888
Filed: 11/8/04
Founders Community Bank
237 Higuera Street, San Luis Obispo, San Luis Obispo County
Correspondent: Grace Wickersham
Carpenter & Company
5 Park Plaza, Suite 950
Irvine, CA 92614
(949) 261-8888
Approved: 11/10/04
3 Monthly Bulletin November 2004
BNY Western Trust Company, Los Angeles, converted to a national bank under the name The Bank of
New York Trust Company, N.A.
Effected: 11/1/04
First Bank of Beverly Hills, FSB, Calabasas, to convert from a federal savings bank to a state charter
under the name of First Bank of Beverly Hills
Filed: 11/8/04
Nara Bank, N.A., Los Angeles, to convert from a national bank to a state charter under the name Nara
Approved: 11/10/04
Bank of Lodi, N.A., Lodi, with and into Placer Sierra Bank, Auburn
Approved: 11/17/04
Bank of Madera County, Oakhurst, with and into Central Valley Community Bank, Clovis
Approved: 11/19/04
CNA Trust Corporation, Costa Mesa, with and into Nevada Security Bank, Reno, Nevada
Effected: 11/19/04
Granite State Bank, Monrovia with and into Citizens Business Bank, Ontario
Filed: 11/29/04
National Bank of the Redwoods, Santa Rosa, with and into Westamerica Bank, San Rafael
Filed: 11/5/04
Orange Savings Bank of Texas, SSB, Mauriceville, Texas, with and into Wilshire State Bank, Los
Effected: 11/16/04
Industrial Bank Activity
Franklin Bank of California, Orange with and into Cass Commercial Bank, Bridgeton, Missouri
Effected: 11/24/04
Purchase of Partial Business Unit
Silvergate Bank, La Jolla, to assume specified deposit liabilities of Pan American Bank FSB,
Withdrawn: 10/29/04
4 Monthly Bulletin November 2004
Premium Finance Company Activity
New Premium Finance Company
California Premium Financing, Inc.
2501 East Chapman Avenue, Fullerton, Orange County
Correspondent: Carol Manson
Automated Installment Systems
955 Executive Parkway, #201
St. Louis, MO 63141
(800) 624-6308
Opened: 11/9/04
Coronado Premium Finance Company, Inc.
5480 Baltimore Drive, Suite 205, La Mesa, San Diego County
Correspondent: Daniel P. Duncan
5480 Baltimore Drive, Suite 205
La Mesa, CA 91942
(619) 977-4415
Approved: 11/4/04
Change of Name
Great American Premium Finance Corp. to Pacific Security Premium Finance Crop.
Effected: 5/5/04
Credit Union Activity
Kai-Perm Sacramento Federal Credit Union, Sacramento, into Sacramento Credit Union, Sacramento
Filed: 11/22/04
Vallejo Schools Federal Credit Union, Vallejo, into 1st Pacific Credit Union, Vallejo
Filed: 11/5/04
Change of Name
Chevron Valley Credit Union to change its name to Sun Financial Credit Union
Filed: 10/7/04
Approved: 10/27/04
Field of Membership
Nine credit unions received approvals to add 28 new field of membership during October 2004.
5 Monthly Bulletin November 2004
Bylaw Amendment
Two credit union received two approvals for a bylaw amendment during October 2004.
One credit union received an approval for request for variance to sections of the California Code of
Regulations during October 2004.
Payment Instrument Activity
New Payment Instrument
Omnex Group, Inc.
Filed: 11/22/04
Commissioner of Financial Institutions
Bulletin for Month ended
November 2004, issued pursuant
to Financial Code, Section 258
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